"doesn't make sense .. could you explain ... is there something...

"doesn't make sense .. could you explain ... is there something I have missed ..."

Yes - there is 'something' you have missed!

Have you never wished to sell an asset - shares, a house, a car, anything - but had to wait until you get the right price?

I have known people (in the past, not recently) who have wanted to sell their homes and had to wait well over a year to secure a buyer at their min price.

Shares are no different. If mbot believed the price was never going to be higher than it is now, he would likely sell. But if he believes there will be a higher exit opportunity, he may choose to wait even though he wants to sell.